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SATOInvesco Alerian Galaxy Crypto Economy ETF

Options Analysis Report•INVESTMENT ADVICE
AUM $8M|BATS
● 2026-08-31$17.80
VERY BULLISH
Analysis: 2026-08-28 EOD data
1Y -16.4%YTD -5.1%7D -0.8%
1
30D
±8.6%
36%

SATO Options Overview

IV is elevated with bullish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SATO Gamma Walls

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Value

Is IV priced right?

3.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 95.5% — elevated vs history

<1.05x

IV/HV 1.95x — IV premium over HV

Sector Relative≤50%

Sector percentile 97% — above sector median

<1.1x

Front/Back 1.01x — flat

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 96.3% — crisis-level IV

<80%

Effective IV 101.2% (ATM 96.3% + spread 2.4% + bias) — expensive

<3.0%

Total drag 2.43% (spread 2.43% + slippage 0.00%) — acceptable

≥5.0

Vega efficiency 17.17 (vega 4.173 / spread 2.43%) — efficient

Sentiment

Bullish or bearish?

10.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksCall-heavy - Moderate signal (P/C: 0.00)
<0.65 or >1.55

P/C 0.00 — call-heavy (buy/sell unknown)

≥15%

|OI skew| 100.0% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew +100.0% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

3.4
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.0x avg — normal

≥15%

Vol/OI 6.2% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +0.0% (5d) — stable

Sector Relative≥60%

Sector activity percentile 75% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

4.0
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed
≤5.0%

Spread 2.4% — acceptable

≥10,000

OI 16 — thin

≥500

Volume 1/day — thin

≤$0.50

$0.12 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 98% — much wider than sector

≥100 contracts

Depth 0 contracts (bid:0 ask:0) — thin

<1.0%

Avg slippage 0.00% — excellent

Timing

Is now a good time?

6.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed
|slope| ≥5%

Slope +1.4% — flat/unclear

<30 or >70

IV percentile 96% — seller opportunity

≥10pts kink

IV kink 0.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 287.83 — favors income trades

≥3 expirations

2 liquid expirations — limited

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls6.2
bullishIV expensive, bullish flow
Long Puts2.7
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put7.3
bullishIV rich premium, bullish flow
Covered Call3.8
bearishIV rich premium, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on SATO

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